The measure is aimed at ensuring transparency and accountability in total remittance of accruals into the Federation Account and disbursement to the three-tiers of government in line with constitutional provision.

In a statement, the Head, Public Relations, RMAFC, Ibrahim Mohammed, said the Chairman, Elias Mbam, led members of the Non-Oil Sector Committee of the Commission on an oversight visit to the Ministry of Mines and Steel Development in this regard. He urged the Federal Government to intensify efforts aimed at strengthening the solid minerals sector for generating more cash into the Federation Account.

Mbam also said the solid minerals sector, which generates over N1billion, remains a viable alternative to hydrocarbon resources, which he described as exhaustible and non-renewable.

He said it was imperative for governments at all levels, especially the Federal Government, to strengthen the sector by creating an enabling environment for the diversification of the economy.

The chairman told the Minister that as part of its job, the Commission would reconcile solid minerals revenue this year in conjunction with the Ministry of Mines and Steel Development, the Office of the Accountant-General of the Federation and the Central Bank of Nigeria(CBN).

Responding, the Minister, Mohammed Musa Sada, told the Committee that the Ministry is accountable to RMAFC, and as such welcomes the partnership from the Commission and other relevant agencies of the government in its quest to reposition the solid minerals sector for optimum revenue generation.

He said the ministry employed NEITI officials to assess the performance of the sector from 2007-2010.

According to the Sada, findings from the study revealed that the revenue realised do not represent the actual money made. He attributed the problrm to flaws in the system.

To address the anomaly therefore, the minister called for a review of laws on royalties and institutionalisation of a viable fiscal policy to guide operators and regulators. He also called for adequate funding of the sector, adding that it is capital intensive.